The GBP/JPY currency pair is currently expected to move lower. This bearish outlook is supported by the downward trendline, along with the formation of a swing high, signaling that selling pressure remains dominant.
Moreover, the price continues to show a strong tendency for further decline as there are still no significant signs of a bullish reversal. Given this setup, the bearish outlook remains valid.
Recommendation:
- Sell GBP/JPY
- Entry: 198.230
- Take Profit: 197.830
- Stop Loss: 198.530
*DISCLAIMER: All content in daily forex news is informative. PT. Maxco Futures does not guarantee its accuracy and completeness. The company is not responsible for investment losses due to the use of the information contained.
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